Alsons posted 6% profit growth in ’12

Listed firm Alsons Consolidated Resources Inc. (ACR) of the Alcantara Group on Friday said it had posted a 6-percent revenue growth to P3.07 billion in 2012 from P2.91 billion in 2011 on higher sales of power and water utilities in the Lima Technology Center in Batangas.

Its consolidated net income dropped by 11 percent to P1.08 billion in 2012 from P1.22 billion in 2011 but net income attributable to the parent gained 12 percent to P508.6 million in 2012 from P455.9 million in 2011.

The bottom line boosted the company’s earnings per share to P0.081 in 2012 from P0.072 in 2011, ACR said.

ACR also reported taking over the 98-megawatt (MW) Iligan Diesel Power Plant (IDPP) which it acquired from the City of Iligan through a bidding in 2011. The plant is up for rehabilitation.

Rehabilitation work started on March 11, 2013.

The plant is expected to begin initial operations next month. ACR said the aim is to ramp up to full capacity at 98 MW by September 2013. If so, the plant will become an immediate source of additional power for Mindanao, which is currently experiencing a severe power shortage, ACR said.

Since early 2013, major population centers including General Santos, Iligan and Zamboanga have been experiencing daily power outages that have lasted for up to 8 hours in some areas.

ACR said its board of directors also approved the payment of cash dividends of P0.016 per share on June 14, 2013 to stockholders of record on May 23, 2013. It also set the annual stockholder’s meeting of the company on May 24, 2013 with a record date of April 15, 2013.